Denmark-based Bavarian Nordic has signed an agreement to acquire rabies and tick-borne encephalitis (TBE) vaccines from GlaxoSmithKline in a deal valued at around €796m ($888m).
Under the deal, Bavarian Nordic will purchase the manufacturing and global rights related to travel vaccines Rabipur/RabAvert to prevent rabies and Encepur to prevent TBE.
The deal includes an upfront payment of around €301m ($336m) in cash upon deal closing, which is expected to occur by the end of this year, as well as conditional milestone payments of up to €495m ($552m) expected during the 2020-2025 transition period.
Bavarian Nordic president and CEO Paul Chaplin said: “This truly transformative acquisition pulls forward our vision to be a profitable independent vaccine company. Our proven world-leading manufacturing expertise in egg-based vaccines certainly creates a perfect fit for Rabipur/RabAvert and Encepur, with significant future synergies.”
Rabies is a serious infection in humans resulting from the transfer of Lyssavirus, while TBE is a type of viral encephalitis caused by a filovirus spread by ticks found in most of Europe, Russia and parts of China and Japan
